New York man pleads guilty to student loan fraud

MARTINSBURG, WEST VIRGINIA – Shiftan Shagabaev, 42, of Brooklyn, New York was convicted today for committing student loan fraud, Acting United States Attorney Betsy Steinfeld Jividen announced.

Shagabaev admitted to making a fraudulent statement on a student loan application in Jefferson County, West Virginia in December 2012.

Shagabaev pled guilty to one count of “Student Loan Fraud.” He faces up to one year in prison and a fine up to $250,000. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
  
Assistant U.S. Attorney Paul T. Camilletti prosecuted the case on behalf of the government. The United States Department of Education investigated.

U.S. Magistrate Judge Robert W. Trumble presided.